Corporate Bond Sales Set Annual Record

Bloomberg reported that U.S. corporate bond sales swelled to an annual record as a late-year rush by borrowers to lock in low interest rates pushed offerings for 2014 pass $1.5 trillion.

Bloomberg said its data show companies have offered $1.168 trillion of investment-grade notes in 2014 and $344 billion of junk bonds that outpaces the $1.146 trillion of high-grade notes and $348 billion of junk notes issued last year.

Bloomberg notes that the surge in sales has been boosted by record-low borrowing costs as yields on corporate bonds in the U.S. fell to 3.57% in June and have since risen to 3.86%.